VIASYS Healthcare is now a majority owned subsidiary of Cardinal Health and within a week is expected to be a wholly owned subsidiary.
The initial offering period for the tender offer expired at midnight on June 20 with Cardinal holding more than 80% of the outstanding shares of VIASYS Healthcare.
Cardinal Health expects to acquire the remaining shares and complete the acquisition by June 30 by means of a merger at the same price paid in the tender, $42.75 per share. Once the merger is complete, VIASYS will be a wholly owned subsidiary of Cardinal Health.
The tender offer and merger plans were announced on May 14, in a transaction estimated at $1.5 billion, but the June 28 edition of the Wall Street Journal valued the deal at $1.42 billion.
The acquisition will expand Cardinal Health’s clinical and medical product offerings for global, acute-care customers and will also provide a range of complementary products to the company’s medical disposables business and will leverage its integrated hospital selling organization in the United States.